Less than a year after opening in Congress Park, Billy’s Inn has closed its second location.
“Sales just never met our expectations, so we decided that we’d be better off putting our resources into our other restaurants and lease the space out to someone else,” said Joe Vostrejs, founder of Billy’s Inn’s parent company, City Street Investors.
Nearly 90 years after Billy’s Inn first opened in Denver, the Northside neighborhood staple debuted its second location at 1222 Madison St. at the end of January. But with a lack of momentum, the local bar and grill closed on Saturday, Nov. 5.
“It was a little surprising,” Vostrejs said. “Our original location of Billy’s Inn has been around for a really long time and does very well, so we were surprised it didn’t translate to that location, but it’s a different neighborhood. There’s a lot more similar competition in that area, and maybe that was the issue.”
City Street Investors, which also owns a number of restaurants including Lowry Beer Garden and The Cooper Lounge, owns Billy’s Inn’s 2,500-square-foot space in Congress Park. The company purchased the building for $1.1 million in 2009, according to property records.
“We’re a real estate company as well as a restaurant company, so we have restaurant strategies and real estate strategies,” Vostrejs said. “It’s great to have the opportunity to do both, but after a long-term analysis on this location, we’ll probably be better off pursuing a real estate strategy.”
Billy and Judy Smith opened Billy’s Inn in 1933. After several ownership changes over the years, City Street Investors purchased the business and property in 2008. Billy’s Inn’s original location, located at 4403 Lowell Blvd., will continue to operate as usual.
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